Dhaka, Bangladesh (BBN) -The public subscription of National Feed Mill Limited (NFML) will begin this month to raise a fund worth BDT 180 million from public, officials said.
The subscription will begin from October 26 and remain open till October 30 for resident Bangladeshi and it will continue till November 8 for non-resident Bangladeshi (NRB). A market lot is 500 shares and single lot price is BDT 5,000.
The securities regulator — Bangladesh Securities and Exchange Commission (BSEC) approved initial public offering (IPO) proposal of the company on August 26, this year.
As per the regulatory approval, the company will offload 18 million ordinary shares at an offer price of BDT 10 and raise the said amount from public using the fixed price method.
The fund raised through the IPO will be used for repayment of bank loan and expansion of business along with boosting working capital, according to the company’s IPO prospectus.
As per the audited financial statement for the year ended on June 30, 2013 the earnings per share (EPS) and net asset value (NAV) of the National Feed Mills are BDT 1.85 and BDT 14.55 respectively.
ICB Capital Management and PLFS Investments will jointly manage the National Feed Mill’s IPO.
The company engaged in manufacturing of all kinds of feed for poultry, shrimp, fishery & cattle, according to the company’s IPO prospectus.
BBN/SSR/AD-09Oct14-11:50 pm (BST)
